SIZZLER INTERNATIONAL, INC. AND SUBSIDIARIES EXHIBIT 11 - PART I COMPUTATION OF PER SHARE EARNINGS The weighted average number of shares used in the computation of net income per share is as follows: TWELVE WEEKS ENDED ------------------------- July 20, July 21, 1997 1996 ----------- ---------- Weighted average of outstanding shares 28,900,846 28,848,125 Common stock equivalents - 66 ----------- ----------- Primary shares 28,900,846 28,848,191 Additional shares - 22 ----------- ----------- Fully diluted shares 28,900,846 28,848,213 =========== =========== Net income used to calculate primary and fully diluted earnings per share $ 1,487,000 $ 494,000 =========== =========== Earnings per share $ 0.05 $ 0.02 =========== =========== 13